Govt borrowings down in March to P589 billion

THE national government’s gross financing went down to P589 billion in March, data from the Bureau of Treasury showed.

Data released over the weekend showed that the actual P589.88-billion gross borrowings in the third month of 2022 was down from the P617.29 billion a year earlier.

During the month, local financing of P458.56 billion eased by 21 percent from P584.12 billion a year ago. Domestic borrowings were generated through the issuance of P457.79-billion worth of Treasury bonds.

External financing, meantime, soared by 295 percent to P131.32 billion from P33.17 billion a year ago. Total foreign borrowings in March were raised through P13.99-billion worth of project loans and P117.32-billion global bonds.

In the first three months of the year, the government’s gross borrowings amounted to P1.08 trillion.

Broken down, local financing hit P458.56 billion, which was sourced through the issuance of P457.79 billion and P230.86-billion worth of Retail Treasury Bonds and Fixed Rate Treasury Bonds.

The government also generated P300 billion from the short-term borrowings of the Bangko Sentral ng Pilipinas.

External financing, meanwhile, reached P 233 billion. It was raised from the P26.62-billion worth of project loans, P89.07-billion program loans and P117.32-billion global bonds.